Dear Readers,

Stocks are predominantly on the rise as investors analyze the Federal Reserve's statements and its decision on interest rates.

Market indexes are rebounding from Wednesday's downturn, with Fed Chairman Jerome Powell dismissing the likelihood of a rate cut in March.

The federal-funds rate remains steady in the range of 5.25% to 5.50%. Post the Fed decision, futures indicate a reduced probability of an interest rate cut by March, now at 35%, marking the lowest in over two months according to Deutsche Bank.

The focus now shifts to earnings reports from Amazon.com, Apple, and Meta Platforms, scheduled after the market closes.

As of 11:37 AM ET, the Dow was up 88.4102 points, or 0.2317%, at $38238.71. The Nasdaq Composite added 69.1582 points, or 0.4036%, at $17206.395. The S&P 500 rose 20.98 points, or 0.433%, at $4866.63. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Financials leading the way with a -0.64% decrease.

Top Movers: Under $10

Kiora Pharmaceuticals Inc (KPRX) is up 47.59% today to trade at the current level of $0.82. This comes after the company announced a $45 million private placement.

NeuroBo Pharmaceuticals Inc (NRBO) zoomed 55.96% in today’s trade to $5.10 after announcing FDA clearance of IND for a phase 1 clinical trial of DA-1726 for the treatment of obesity.

In current trading, Celularity Inc (CELU) stock is at $0.51 after reporting net sales expectations for first quarter 2024 and full year 2024.

Clearmind Medicine Inc (CMND) rose 16.20% in the early hours of today's trading to move at $1.66 after announcing the signing of an exclusive long-term license agreement with BIRAD, a research & development company of Bar-Ilan University, to use the joint patent it has with BIRAD for innovative cocaine treatment.

In the current trading session, Sunpower Corp (SPWR) jumped 18.81% to $3.60 over a previous close of $3.03. The company announced that it has received additional waiver extensions from Atlas Securitized Products Holdings, L.P., and Bank of America, providing for the extension of the latest temporary waivers until February 16, 2024.

Ex-Dividends Stocks

Citigroup Inc (C) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.53 per share. It has fixed February 05 as the record date for the same and will pay the actual dividend on February 23. Last year, the company distributed a total of $2.15 to its shareholders. Based on the last year's worth of payments, C has a trailing yield of 3.90% on the current stock price of $55.12.

Another stock that is shelling out dividends tomorrow is Dorian LPG Ltd (LPG), having a market capitalization of $1.55B. It will pay a dividend of $1 per share, the payment date of which is February 27. Currently, the stock is trading at a trailing dividend yield of 7.56%.

Shares of NiSource Inc (NI) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.27 per share, and in the last 12 months, it paid a total of $1.00 per share. Last year's total dividend payments show that NI has a trailing yield of 3.85% on the current share price of $25.98.

Omega Healthcare Investors, Inc. (OHI) is also set to go ex-dividend tomorrow. The next dividend payment from OHI will amount to $0.67 per share. February 05 has been designated as the record date for this dividend, with the actual payout scheduled for February 15. In the previous year, OHI distributed a total of $2.68 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for OHI stands at 9.26% based on the current stock price of $28.95.

Synchrony Financial (SYF) will be paying out a dividend of $0.25 per share to shareholders holding their shares as of the close of the business hours on the record date of February 05. Over the past 12 months, SYF has paid out a total of $1.02 per share in dividends. Based on the total dividends paid out last year, SYF boasts an impressive trailing yield of 2.68% on the current share price of $38.10.

Crypto Market Highlights

Most Shorted Stocks

ImmunityBio Inc (IBRX) was one of the most shorted stocks as of latest short interest figures, with 32.05% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 6.8. This represents a change of 1410000 shares, which corresponds to a +3.48% increase in short interest. The total value of the shares held short is estimated to be around $140.88 million. The average daily volume stands at 4.59M shares, and the market capitalization of the company is $2.24B.

The Guess Inc. with the symbol GES currently has a short interest of 30.89%. The short interest has changed by 1200000 shares. The days to cover ratio stands at 9.0. The estimated value of the shares held short is approximately $187.88 million. On an average day, 945.95K shares are traded, with the company's market capitalization totaling $1.20B.

With the symbol ABR, the stock currently has a short interest of 29.29%. The short interest change is -60000 shares, compared with a short interest percentage change of -0.11%. It would take approximately 11.0 days to cover all the short positions. The company boasts an average daily volume of 4.92M shares, contributing to a market capitalization of $2.51B.

The stock ORIC has a current short interest of 27.95%. The short interest percentage has experienced increase of +0.11% while there was a change of 10000 shares in short interest. The ratio indicating the time required to cover short positions is 19.8. The calculated worth of the shorted shares amounts to around $606.76 million. Trading activity averages at 415.33K shares per day, while the company's market capitalization stands at $599.50M.

Biotech Stocks to Watch

According to our ST Score evaluation, Ligand Pharmaceuticals, Inc. (LGND) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 66.0. The stock's profitability, performance, financial strength, and Piotroski Score are strong. However, its value are weak. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies Zymeworks BC Inc (ZYME) as a high-quality Biotech stock today, presenting a Score of 66.0. The stock has strong fundamentals in terms of valuation, profitability, performance, and stock sentiment. The growth, financial strength, Piotroski Score, and forecast are neutral.

Another stock in the category, Amylyx Pharmaceuticals Inc (AMLX) has the ST Score of 64.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, growth, financial strength, and stock sentiment. Value, performance, piotroski score, and forecast suggest a neutral outlook.

Y-Mabs Therapeutics Inc (YMAB) stock has the ST Score of 62.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, financial strength, and stock sentiment, but its weaknesses are in its value, and growth. However, it shows neutral outlook in Piotroski Score, and forecast.

Spero Therapeutics Inc (SPRO) currently has the ST Score of 57.0, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, performance, and growth, while its weak points are its financial strength. The stock's value, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.